eBook Nonconstant Dividend Growth Valuation A company currently pays a dividend of $3.8 per share (Do - $3.8). It is estimated that the company's dividend will grow at a rate of 24% per year for the next 2 years, and then at a constant rate of 8% thereafter. The company's stock has a beta of 1.3, the risk free rate is 6.5%, and the market risk premium is 2.5%. What is your estimate of the stock's current price? Do not round Intermediate calculations. Round your answer to the nearest cent. $